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Cash Equivalents and Investments:
 9 Months Ended
Sep. 30, 2014
Investments, Debt and Equity Securities [Abstract]  
Cash Equivalents and Investments:
2. Cash Equivalents and Investments:

As of September 30, 2014 and December 31, 2013, the Company’s cash equivalents consisted entirely of money market funds with a fair value of $5.5 million and $5.3 million, respectively.

Investments consist of municipal debt securities, federal home loan securities and certificates of deposit. Investments with remaining maturities of less than one year are classified as short-term investments. Investments classified as long-term have maturities of one year to seven years.

 

The Company intends and has the ability to hold its held-to-maturity securities to maturity, and therefore carries such investments at amortized cost in accordance with the provisions of the accounting guidance for investments in debt and equity securities.

Investments held at September 30, 2014 and December 31, 2013 are summarized as follows (in thousands):

 

     September 30, 2014      December 31, 2013  
     Short-Term      Long-Term      Short-Term      Long-Term  

Municipal debt securities

    $ 7,033       $ 35,282       $ 5,492       $ 34,495   

Federal home loan securities

      —           26,016         —           22,520   

Certificates of deposit

      248         493         965         496   
  

 

 

     

 

 

     

 

 

     

 

 

  
   $ 7,281       $ 61,791       $ 6,457       $ 57,511